US, European shares little changed ahead of Ukraine talks, Jackson Hole

Wall Street and European shares were flat to marginally lower on Monday ahead of a potentially eventful week for U.S. interest rate policy, even as attention turned to Washington where Ukraine's Volodymyr Zelenskiy and European leaders will meet President Donald Trump.

The S&P 500  was down slightly in midday trading, but remained within striking distance of its all-time high hit on Friday.

The pan-European STOXX 600 index  was flat after hitting its highest since March last week, which left the MSCI All Country World Index  0.1% lower, but not far from its record high touched on Friday.

Earlier in the Asian session, indexes in Japan and Taiwan hit record peaks, while a gauge of Chinese stocks  reached its highest level in a decade.

Investors were bracing for Trump's meeting with Zelenskiy and European leaders later on Monday to discuss the next steps to end the war in Ukraine, after Trump's summit with Russian President Vladimir Putin in Alaska on Friday.

"Expectations for any breakthrough are low, but apart from energy and assets with direct exposure to the region, the marginal impact on sentiment from the conflict has faded," Geoff Yu, EMEA macro strategist wrote in a research note.